SOURCE: Fleet Managment Solutions Inc.

November 22, 2010 09:13 ET

Fleet Management Opens New Peugeot Facility

NAPLES, FL--(Marketwire - November 22, 2010) - Fleet Management Solutions Inc. (FMS) (PINKSHEETS: FLMG) is pleased to announce the opening of a new Peugeot dealership and service center.

This new facility is located at 37 Athinon-Piraeus Ave., in Moschato, Greece. The building occupies a space of 1000 sq. meters and will create employment for up to ten new people.

The facility will offer Peugeot clients a wide range of services, including ongoing maintenance, original and spare parts replacement, Peugeot accessories, as well as paint and bodywork capabilities. In addition to servicing, the entire range of new and used Peugeot vehicles will be available for purchase or lease through the new showroom.

It is anticipated that this new location will generate gross revenue in excess of EU$1,000,000 annually.

About Peugeot

Peugeot is a major French car brand, part of PSA Peugeot Citroën, the second largest carmaker based in Europe.

Peugeot has 200 years of history and is represented in more than 160 countries worldwide with 10,000 points of sale offering a comprehensive range of products that meet the needs of the most demanding automotive enthusiast.

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About FMS Inc.: FMS Greece ( is based in Athens, Greece and currently owns and operates 3 commercial locations with 26 full time employees. FMS provides a number of fleet management solutions in the automotive sector throughout the country and various parts of the Balkans. The Company was formed as a result of a merger between ABR Bosch Car Services, which was founded in 1992, and EDC Hellas S.A., which was founded in 1998 by EDC Holdings. With decades of experience, both companies identified an opportunity in the automotive market by providing fleet management services and solutions and subsequently formed FMS S.A. which has grown 311% in the last 3 years.

The Company is focused on utilizing its vast automotive industry experience and its "state of the art" technologies to provide the very best turnkey services and solutions while significantly reducing costs for its client companies. FMS provides numerous comprehensive fleet management solutions such as online fleet management, maintenance programs, 24 hour roadside assistance, fuel management programs, insurance programs, license and title services, telematics and acquisition and lease buyout programs, and re-marketing of used vehicles. FMS utilizes authorized dealership networks and the BOSCH Car Service Network with 120 service locations in Greece.

Forward-looking Statement: This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 -- forward-looking statements concerning plans, objectives, goals, strategies, future events of performance and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and services demand and acceptance, changes in technology and in economic, political and regulatory conditions and to all of the risks generally associated with a company at FMS's stage of development. All such forward looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by these cautionary statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

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